“Today’s reforms will encourage companies to produce innovative and engaging reports, in line with current business best practice,” she said.

“Requiring them to disclose the number of senior women in the organisation will persuade companies to pursue greater diversity and develop the pipeline of talent, helping drive a long-term culture change at the heart of business.”

Quoted companies will have to produce a simple, stand-alone strategy report, replacing business reviews which can be long and complex. The report will also have to include any human rights issues, alongside existing requirements on listing community and social policies.

A more detailed directors’ report will still be published.

Ms Swinson revealed draft regulations today with the changes due to come into force next October, alongside new rules on voting and reporting on pay. Shareholders will get a binding vote every three years on directors’ pay, or when the salary policy changes.

Companies will also have to give a single figure on the earnings of directors, as well as detailing bonuses, salary and long-term incentives.

The aim of the reforms is to increase corporate transparency and make it easier for shareholders to hold companies to account, while removing outdated and duplicated requirements.

“It’s widely acknowledged that the UK leads the world in standards of annual reporting, and that those standards are rising every year. However, over a period of years reports have become longer, more complex and increasingly difficult for shareholders to navigate,” Ms Swinson added.

The regulations remove several reporting requirements including those concerning charitable donations and payment to creditors.

The Financial Reporting Council will consult early next year on improved guidance to help companies follow the new regulations and produce succinct and meaningful reports.

The Government is striving to increase the number of women in top company posts but is opposed to European Commission proposals for quotas to reserve at least 40 per cent of their non-executive director board seats for women by 2020. Women’s minister Helen Grant recently warned that these quotas could “demean” women.

The Government believes a voluntary system to address gender imbalances in business is already working.